In the last few months, Phil Falcone has sold a house for almost $80 million and a bunch of paintings and other stuff, in spite of the fact that they were collateral for some loans, which he was also not paying. And still he lacks the scratch to pay those who won him that surprisingly lenient settlement over those taxes unpaid and paid with investor money, apparently by the canny strategy of legal malpractice. And now, it seems, he won’t be paying for anything until he pays those lawyers.
A New York judge has frozen assets belonging to hedge fund manager Philip Falcone and his Harbinger Offshore fund after he failed to pay millions in legal fees to a Manhattan law firm that defended him in high-stakes litigation against US regulators…. In his ruling, Judge Engoron upheld a decision handed down by an arbitrator earlier this year in which Mr Falcone and Harbinger were ordered to pay $13.6m in legal fees to Dontzin Nagy & Fleissig for work going back almost eight years.